HGI Capital Management LLC reduced its position in shares of Apartment Investment and Management Co (NYSE:AIV) by 37.9% during the second quarter, Holdings Channel reports. The fund owned 82,866 shares of the real estate investment trust’s stock after selling 50,550 shares during the period. Apartment Investment and Management makes up about 4.4% of HGI Capital Management LLC’s portfolio, making the stock its 12th largest position. HGI Capital Management LLC’s holdings in Apartment Investment and Management were worth $3,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ING Groep NV boosted its position in Apartment Investment and Management by 0.4% in the second quarter. ING Groep NV now owns 8,048 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 29 shares during the last quarter. CIBC Asset Management Inc boosted its position in Apartment Investment and Management by 0.5% in the second quarter. CIBC Asset Management Inc now owns 13,451 shares of the real estate investment trust’s stock worth $578,000 after buying an additional 69 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in Apartment Investment and Management by 0.3% in the first quarter. New Mexico Educational Retirement Board now owns 37,483 shares of the real estate investment trust’s stock worth $1,663,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its position in Apartment Investment and Management by 0.3% in the first quarter. Arizona State Retirement System now owns 38,916 shares of the real estate investment trust’s stock worth $1,726,000 after buying an additional 100 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its position in Apartment Investment and Management by 1.0% in the first quarter. Transamerica Financial Advisors Inc. now owns 14,744 shares of the real estate investment trust’s stock worth $654,000 after buying an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Shares of Apartment Investment and Management Co (NYSE:AIV) opened at 46.00 on Thursday. The company’s 50 day moving average is $43.93 and its 200-day moving average is $44.19. Apartment Investment and Management Co has a 52 week low of $39.66 and a 52 week high of $47.91. The stock has a market capitalization of $7.19 billion, a PE ratio of 36.22 and a beta of 0.44.

Apartment Investment and Management (NYSE:AIV) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $246.24 million during the quarter, compared to analyst estimates of $240.78 million. Apartment Investment and Management had a net margin of 8.06% and a return on equity of 3.92%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities analysts predict that Apartment Investment and Management Co will post $0.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.44 annualized dividend and a yield of 3.13%. Apartment Investment and Management’s dividend payout ratio (DPR) is 113.39%.

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A number of research analysts have weighed in on the stock. BidaskClub cut shares of Apartment Investment and Management from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BMO Capital Markets reiterated a “sell” rating and issued a $42.00 target price on shares of Apartment Investment and Management in a research note on Thursday, May 25th. JMP Securities upgraded shares of Apartment Investment and Management from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Apartment Investment and Management from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, July 24th. Finally, Barclays PLC dropped their target price on shares of Apartment Investment and Management from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, May 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.88.

About Apartment Investment and Management

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT). Aimco, through its subsidiaries, AIMCO-GP, Inc and AIMCO-LP Trust, holds the ownership interests in the Aimco Operating Partnership. It operates through two segments: conventional real estate and affordable real estate.

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Institutional Ownership by Quarter for Apartment Investment and Management (NYSE:AIV)

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